AI English summary of an SEC filing — figures as filed

The company said it granted RSUs and PSUs to Sherri R. Luther, its new Chief Financial Officer and Treasurer, effective October 11, 2024, her start date. The company said the awards were made as a material inducement for her to join the company.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Oct 16, 2024Period of report Oct 11, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

The company said it granted RSUs and PSUs to Sherri R. Luther, its new Chief Financial Officer and Treasurer, effective October 11, 2024, her start date. The company said the awards were made as a material inducement for her to join the company.
The company said the first RSU award covers 15,902 shares and vests in 3 equal installments over the first 3 anniversaries of the grant date. It said the second RSU award covers 63,154 shares and vests in 2 equal installments over the first 2 anniversaries. Vesting in each case is subject to Ms. Luther's continued employment through each vesting date.
The company said the PSUs cover a target of 118,583 shares and vest based on relative TSR from the grant date through June 30, 2027, measured against the S&P Composite 1500—Electronic Equipment, Instruments & Components. Performance below the 25th percentile does not pay out. Performance at the 25th percentile pays 50%, performance at the 50th percentile pays 100%, and performance at or above the 75th percentile pays 200%.
The company said that if its absolute TSR for the performance period is negative, the payout for performance above target is capped at 100%. It said Ms. Luther must remain employed through the end of the performance period. The company also said vesting upon termination of employment or a change in control for the RSUs and PSUs follows its standard terms for executive officers under its Revised Executive Severance Plan and related participation agreement.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Inducement Equity Awards to New Chief Financial Officer and Treasurer

The company said it granted RSUs and PSUs to Sherri R. Luther, its new Chief Financial Officer and Treasurer, effective October 11, 2024, her start date. The company said the awards were made as a material inducement for her to join the company.

Source · Based on the filing body and exhibits

Size and Vesting Terms of Two RSU Awards

The company said the first RSU award covers 15,902 shares and vests in 3 equal installments over the first 3 anniversaries of the grant date. It said the second RSU award covers 63,154 shares and vests in 2 equal installments over the first 2 anniversaries. Vesting in each case is subject to Ms. Luther's continued employment through each vesting date.

Source · Based on the filing body and exhibits

Target Shares and Relative TSR Payout Structure for PSUs

The company said the PSUs cover a target of 118,583 shares and vest based on relative TSR from the grant date through June 30, 2027, measured against the S&P Composite 1500—Electronic Equipment, Instruments & Components. Performance below the 25th percentile does not pay out. Performance at the 25th percentile pays 50%, performance at the 50th percentile pays 100%, and performance at or above the 75th percentile pays 200%.

Source · Based on the filing body and exhibits

PSU Payout Cap and Treatment on Termination or Change in Control

The company said that if its absolute TSR for the performance period is negative, the payout for performance above target is capped at 100%. It said Ms. Luther must remain employed through the end of the performance period. The company also said vesting upon termination of employment or a change in control for the RSUs and PSUs follows its standard terms for executive officers under its Revised Executive Severance Plan and related participation agreement.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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